SOURCE: TradeCard Inc.

June 04, 2007 10:00 ET

TradeCard Completes SAS 70 Type II Examination for Operations Controls

Report on Tests of Operating Effectiveness From Third-Party Auditor Provides Transparency for Viewing the Flow of Transactions on the Global Trade Platform

NEW YORK, NY--(Marketwire - June 4, 2007) - TradeCard Inc., the leading provider of global trade solutions for financial and physical supply chain automation, has announced the completion of a SAS 70 Type II examination of its internal controls related to the processing of transactions on the TradeCard Platform.

SAS 70 examinations were performed by Ernst & Young LLP to report on TradeCard's controls over the processes and data that impact its customers and partners.

"As an on-demand global trade platform, our customers' data and the control processes that surround them are vital to our business," said Kurt Cavano, CEO of TradeCard Inc. "We don't just want to be a trusted platform for conducting global trade, we are determined to be the most trusted platform. The SAS 70 examinations provide assurance that our operations and management are responsive to the needs of our customers to help manage security and accuracy throughout the TradeCard transaction flow."

TradeCard's SAS 70 examination builds on the trust and security it demonstrated in 2006 when it received the WebTrust seal. The completion of the SAS 70 examination further validates TradeCard's dedication to processes and controls that assure its customers and partners of the stability of the TradeCard system.

Statement on Auditing Standards No. 70 (SAS 70) was established by the American Institute of Certified Public Accountants (AICPA) for service organizations to provide the basis for examining controls related to financial transaction processing and for assessing its operational measures and defined control objectives. Areas of examination for TradeCard include customer acquisition, activation and accounting reconciliation processes, and related general computer controls relative to TradeCard's processing environment.

TradeCard reshapes the way businesses conduct global transactions and obtain working capital by automating processes from procurement through payment and goods receipt on an on-demand trade platform. TradeCard provides online access to a network of more than 3,000 trading partners around the world, supported by a local "feet on the street" customer support team that speaks 32 languages and supports customers in 40 countries. TradeCard helps clients that range from $10 million to over $20 billion in revenue to eliminate waste and delay from the sourcing process. Financial services available on the TradeCard Platform help companies of all sizes to better compete by extending operational agility and improving margin and cash flow.

About TradeCard

TradeCard is the leading provider of on-demand supply chain management solutions. The TradeCard Platform synchronizes financial transactions with physical events in the global supply chain to help customers automate trade transactions from purchase order to payment and chargebacks. Buyers, sellers and their trading partners manage transactions through a web-based platform with online financial services integrated into the workflow. This turnkey transaction management enables customers to improve margins and enhance growth, with extra-organizational supply chain visibility. TradeCard's on-the-ground trade experts throughout the world assure superior supply chain agility.

TradeCard manages global trade for thousands of users in over 40 countries, including Columbia Sportswear, Rite Aid and Wolverine Worldwide. TradeCard Inc. is headquartered in New York City and has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Tokyo, Colombo, and Shenzhen. TradeCard is located online at www.tradecard.com.

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